At first glance, the difference between a cruise ship and a yacht seems obvious. One conjures images of a floating city built for the masses; the other, of exclusivity and intimacy. But now some of the world’s most prominent hotel brands are muddying the waters. The Ritz-Carlton, Four Seasons, Aman, and Orient Express have all marketed their new vessels as “yachts” to set them apart from cruise ships. But are they?
“Anytime that cabins are sold individually, or there are…

